Which of the following is true regarding simple contracts as compared to negotiable instruments?
A) Simple contracts are assigned to an assignee, while negotiable instruments are negotiated to a holder.
B) Simple contracts may be assigned to an assignee or negotiated to a holder while negotiable instrument may only be negotiated to a holder in due course.
C) Simple contracts may be assigned to an assignee or negotiated to a holder while negotiable instrument may only be negotiated to a holder.
D) Simple contracts may not be assigned while negotiable instruments may be negotiated to holder.
E) Simple contracts may be assigned to a holder while negotiable instruments may not be assigned or negotiated.
Correct Answer:
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